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© Elmos Business | January 28, 2020

Cooperation between Elmos and Fraunhofer Institute IMS comes to an end

The cooperation between Elmos Semiconductor AG and Fraunhofer Institute for Microelectronic Circuits and Systems (IMS) in Duisburg will end on June 30, 2020 in accordance with the agreed contract period, despite Elmos wishes to continue.

Elmos intended to continue the contract under existing conditions. However, the future technological orientation of the IMS and the progression in research priorities offer common interests in limited areas only. Therefore, despite intensive efforts, no continuation of the cooperation on mutually acceptable terms could be agreed upon, a press release reads. "Elmos regrets the expiration of the cooperation with the IMS in Duisburg. We will deal with the consequences of the expiring contract in a socially responsible manner. In addition, we will support the affected employees in their professional reorientation with various measures," says Dr. Anton Mindl, CEO of Elmos Semiconductor AG. "Thanks to the high efficiency of our production in Dortmund and our long established international partnerships, we will have a stable, future-proof production network even after the cooperation expires," Mindl continues. Elmos currently employs around 90 permanent employees in Duisburg. About 25 temporary contracts expire at the end of the cooperation period. The termination of this agreement will result in restructuring expenses in the amount of about EUR 11 million for Elmos. The corresponding provisions will be recognised in the 2019 financial year. Apart from the restructuring expenses, the expiration of the cooperation will not have any significant impacts on operating earnings in the future, the company states.
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March 27 2020 12:33 pm V18.4.17-2